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Jürgen Schreiber Joins Company from the World’s Largest Health and Beauty Retailer
TORONTO, July 31, 2006 –Shoppers Drug Mart Corporation (TSX:SC) today announced the appointment of Jürgen Schreiber as the Company’s President and Chief Operating Officer.
Mr. Schreiber joins Shoppers Drug Mart from his recent post as Chief Executive Officer, Health and Beauty Europe for A.S. Watson, a subsidiary of Hutchison Whampoa Limited, owner of the world’s largest network of health and beauty stores. In this capacity, he was responsible for more than 4,000 stores in 23 countries. These stores, operating under 10 brands, include Superdrug and A.S. Watson. He has also led the company’s recent expansion with the acquisition and successful integration of the Drogas and Spektr chains, as well as its growing position in the perfumeries and cosmetics sector.
Prior to assuming responsibility for the European operations, Mr. Schreiber was responsible for global sourcing for the A.S. Watson Group, overseeing a multi-billion dollar procurement budget.
Earlier in his career, he held a number of increasingly senior positions with a leading international consumer products manufacturer, developing strong international supplier relationships in 15 countries.
“Jürgen is the right addition to our management team at the right time. He adds extensive, unique experience in pharmacy and cosmetic retailing. We are confident that he will bring a distinctive and fresh perspective to Shoppers Drug Mart,” said Glenn Murphy, Chairman and Chief Executive Officer of Shoppers Drug Mart. “Jürgen’s expertise will strengthen and support the Company’s expanding operations. The Board of Directors and I are pleased that the Company has been able to attract such a high-calibre and qualified executive to contribute to our future growth.”
David Williams, Lead Director of the Board, added: “Jürgen adds depth to the Company’s already strong management team at a key point in our evolution. His appointment helps ensure we have the best possible people leading the Company’s operations.
Mr. Schreiber will assume his new position in September when he has completed his relocation from his current home in Europe. He holds a Master of Arts, Business Administration Degree from the University of Mannheim in Germany, and speaks five languages.
“The achievements and potential of Shoppers Drug Mart offer a compelling opportunity,” Mr. Schreiber said. “I look forward to working with my new colleagues to create further value in the Company.”
Shoppers Drug Mart Corporation is one of the most recognized and trusted names in Canadian retailing. The Company is the licensor of full-service retail drug stores operating under the name Shoppers Drug Mart (Pharmaprix in Quebec). With more than 960 Shoppers Drug Mart and Pharmaprix stores operating in prime locations in every province and two territories, the Company is one of the most convenient retailers in Canada. The Company also owns and operates 53 Shoppers Home Health Care stores, making it the largest Canadian retailer of home health care products and services.
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